SANDRA: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SANDRA
Largest movements
- Tangible fixed assets -€264,917
down €264,917 (-7.1%), from €3.7m to €3.5m
- Cash +€70,902
up €70,902 (+7.2%), from €990,360 to €1.1m
mainly Depreciation (+€275,169) and Accrued charges and deferred income (+€19,183)
- Debts after one year -€130,160
down €130,160 (-9.4%), from €1.4m to €1.3m
of which Financial debts: -€130,160
- Profit (loss) carried forward +€118,349
up €118,349 (+7.6%), from €1.5m to €1.7m
- Reserves -€117,057
down €117,057 (-10.7%), from €1.1m to €973,356
of which Tax-exempt reserves: -€117,057
- Provisions -€60,275
down €60,275 (-11.2%), from €539,022 to €478,747
- Other operating charges -€25,019
down €25,019 (-23.4%), from €107,097 to €82,078
- Gross operating margin +€9,725
up €9,725 (+2.6%), from €367,076 to €376,801
- Taxes +€6,338
up €6,338 (+24.1%), from €26,315 to €32,653
- Financial charges -€3,844
down €3,844 (-7.2%), from €53,193 to €49,349
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,853,722 | €4,690,259 | -€163,464 | -3.4% |
| Fixed assets | 21/28 | €3,793,056 | €3,528,138 | -€264,917 | -7.0% |
| Tangible fixed assets | 22/27 | €3,722,289 | €3,457,372 | -€264,917 | -7.1% |
| Land and buildings | 22 | €3,722,289 | €3,457,372 | -€264,917 | -7.1% |
| Financial fixed assets | 28 | €70,767 | €70,767 | = | 0.0% |
| Current assets | 29/58 | €1,060,667 | €1,162,121 | +€101,454 | +9.6% |
| Amounts receivable within one year | 40/41 | €24,424 | €17,602 | -€6,822 | -27.9% |
| Trade receivables | 40 | €10,665 | €17,465 | +€6,800 | +63.8% |
| Other amounts receivable | 41 | €13,759 | €137 | -€13,622 | -99.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €990,360 | €1,061,262 | +€70,902 | +7.2% |
| Deferred charges and accrued income | 490/1 | €45,883 | €83,257 | +€37,374 | +81.5% |
| Total equity and liabilities | 10/49 | €4,853,722 | €4,690,259 | -€163,464 | -3.4% |
| Equity | 10/15 | €2,701,472 | €2,702,763 | +€1,292 | 0.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,090,413 | €973,356 | -€117,057 | -10.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,046,804 | €929,747 | -€117,057 | -11.2% |
| Distributable reserves | 133 | €37,409 | €37,409 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,549,059 | €1,667,408 | +€118,349 | +7.6% |
| Provisions and deferred taxes | 16 | €539,022 | €478,747 | -€60,275 | -11.2% |
| Deferred taxes | 168 | €539,022 | €478,747 | -€60,275 | -11.2% |
| Amounts payable | 17/49 | €1,613,228 | €1,508,748 | -€104,480 | -6.5% |
| Amounts payable after more than one year | 17 | €1,391,494 | €1,261,334 | -€130,160 | -9.4% |
| Financial debts | 170/4 | €891,494 | €761,334 | -€130,160 | -14.6% |
| Other amounts payable | 178/9 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €173,481 | €179,978 | +€6,497 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €127,856 | €130,160 | +€2,305 | +1.8% |
| Trade debts | 44 | €45,625 | €48,204 | +€2,579 | +5.7% |
| Suppliers | 440/4 | €45,625 | €48,204 | +€2,579 | +5.7% |
| Taxes, remuneration and social security | 45 | - | €1,614 | +€1,614 | |
| Taxes | 450/3 | - | €1,614 | +€1,614 | |
| Accrued charges and deferred income | 492/3 | €48,254 | €67,437 | +€19,183 | +39.8% |
| Non-recurring operating income | 76A | €5,500 | €0 | -€5,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €278,869 | €275,169 | -€3,700 | -1.3% |
| Other operating charges | 640/8 | €107,097 | €82,078 | -€25,019 | -23.4% |
| Gross operating margin | 9900 | €367,076 | €376,801 | +€9,725 | +2.6% |
| Operating profit (loss) | 9901 | -€18,890 | €19,554 | +€38,444 | |
| Financial income | 75/76B | €12 | €3,465 | +€3,453 | +28393.3% |
| Recurring financial income | 75 | €12 | €3,465 | +€3,453 | +28393.3% |
| Financial charges | 65/66B | €53,193 | €49,349 | -€3,844 | -7.2% |
| Recurring financial charges | 65 | €53,193 | €49,349 | -€3,844 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | -€72,071 | -€26,330 | +€45,741 | +63.5% |
| Transfer from deferred taxes | 780 | €60,275 | €60,275 | = | 0.0% |
| Income taxes | 67/77 | €26,315 | €32,653 | +€6,338 | +24.1% |
| Profit (loss) for the period | 9904 | -€38,111 | €1,292 | +€39,402 | |
| Transfer from tax-exempt reserves | 789 | €117,057 | €117,057 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,946 | €118,349 | +€39,402 | +49.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.